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L&T Approves Rs 9,000-Crore Share Buyback.

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  • L&T Approves Rs 9,000-Crore Share Buyback.
    2018-08-23, By: System Administrator

    L&T will buy back up to 60 million shares, at a premium of more than 13% over Tuesday's share price, aggregating up to 4.29% of paid-up equity capital.

    Larsen & Toubro Ltd. will buy back as much as Rs 9,000 crore of its shares, in a first for the country's largest construction and engineering company.

    The company will repurchase 6 crore shares (or 4.3 percent of equity) at Rs 1,500 a piece, according to its stock exchange notification today. The price is higher than the stock's all-time high of Rs 1,470 it clocked on Feb. 01. (Source : Bloomberg)

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